Telecom Giant KT And Korean Muslim Foundation Partner On Blockchain Halal Food Pilot

    South Korea's largest telecom firm KT is all set to venture into the country's ever-growing halal food market by partnering with a local blockchain developer B-square, reported Aju Business Daily. The partnership would see the development of a blockchain-based management system to track and authenticate halal food certification.

    South Korean pop culture has given it's food market great exposure in the Middle East and Southeast Asia. South Korean ready-to-eat food market includes ramyun instant noodles and Samgyetang, a ginseng chicken soup that has garnered immense popularity world over.

    Last year Daebak brand of instant noodles became an instant hit in Malaysia right after its release selling two million packs within the first month of its launch. These instant noodles are halal certified and were a huge hit among youths aged in their 20s and 30s. Similarly, Samyang's halal-certified spicy hot chicken noodles were a huge hit in Indonesia, thanks to its well-crafted videos which became a trend on social media.

    Halal foods are considered lawful and permissible under Islamic Sharia laws and around 1.9 million Muslims around the globe prefer halal foods over choices. There has been a growing industry of halal food, and many enterprises catering to the Muslim population like to get halal certified.

    Many South Korean food companies are getting themselves halal certification from international governing bodies to export products to Southeast Asian countries.

    KT enterprises in association with the Korean Muslim Foundation and B-Square will now co-develop a “Halal Certification Trust” and start operating it by the end of the year. The certification trust would streamline the halal certification and authentication process digitally and provide simple step-by-step service on smartphones and computers.

    Blockchain would Eliminate Forgery of Certificates

    Before the KT announcement of a blockchain-based certification program, halal certificates used to be issued on a piece of paper which made it quite easy to forge these documents. KT claimed that its blockchain-enabled system would eliminate such problems.

    South Korea has been quite proactive in the blockchain and cryptocurrency space, as it became one of the earliest nations to regulate crypto trade. Although it did ban ICOs completely after a string of frauds arose, but it has banked big on the blockchain technology which is understandable given the nation is known to be tech-centric.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Hank Klinger
    Hank Klinger
    Hank Klinger has been working online for seven years now. He has written for several national companies. Hank has been a part of our team for over three years, reviewing ICOs, new cryptocurrencies and helping us keep up to date with industry news. His primary knowledge is in marketing, sales, and advertising, and he uses that knowledge to research and pick out reliable sources of information to use as a basis for his writing.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


    Please enter your comment!
    Please enter your name here


    Live Bitcoin Price & Latest BTC Charts

    Today's Latest Crypto News

    Danone Launches ‘Track & Connect' Putting Baby Formula Supply On Blockchain Technology

    Danone is applying for the first time blockchain, aggregation and serialisation technologies for its infant formula packs. David Boulanger, the company’s senior VP of...

    Deribit Exchange Launches Ethereum Daily Options After Success With Bitcoin Contracts

    The Deribit Exchange specializing in crypto derivatives has launched daily Ether (ETH) options, an announcement from Monday and made on Twitter says. The strike price...

    Central Bank of Russia Proposes Amendments To Legal Framework for Tokenization

    The proposed cryptocurrency legislation in Russia could change a lot, now that a new bill for tokenization has been filed. On February 17, the Central...

    Ripple (XRP) Price Analysis (February 17)

    Key Highlights XRP market is under a falling force by the US dollar price valuation. XRP/USD pair’s value now averages a low point at...

    Binance Applies for Singapore Crypto License Under The New Payment Services Act

    Binance crypto exchange through its parent company has applied for Singapore’s new operating license. This follows an upgrade of laws governing crypto in the...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.